1. AUDIT REPORT & CERTIFICATES
CA Shriniwas Y. Joshi

2. Audit Reports Deliverables by branch auditor includes –
The Audit Report as prescribed by the Banking Regulation Act
Long Form Audit Report (LFAR)
Memorandum of Changes (MOC), if any.
Certificates as required by the Appointment Letter
CA Shriniwas Y. Joshi

3. Bank Branch Audit Report
To be addressed as “Independent Auditor’s Report – ABC Branch of XYZ”
Stand Alone Report requiring no cross referencing
Use of standard format – Attach observations and qualifications
CA Shriniwas Y. Joshi

4. Bank Branch Audit Report
MOCs issued – Total number and amount of debits/credits should be given under the heading ‘other matters’ paragraph.
Reporting on documents/returns not available
Reporting on unsatisfactory or inadequate records
Qualified report regarding ‘true and fair view’ requires substantiating the facts and reasons for qualification.
CA Shriniwas Y. Joshi

5. Bank Branch Audit Report
Certain provisions/effects provided only at a consolidation level at HO – To be incorporated in the ‘Modification of Opinion’ paragraph
Non compliance with Auditing Standards at Branch level – AS-17 Segment Reporting and AS-11 Exchange fluctuation on derivative transaction etc. to be clarified
CA Shriniwas Y. Joshi

6. Certificate on DICGC Claims
Claims lodged, Claims received and remittance of proportionate recovery to DICGC
Year-wise break-up of outstanding claims to determine recoverability
Correspondence with DICGC for reduction or rejection of claim
CA Shriniwas Y. Joshi

7. Certificate on PMRY Subsidy
Refer Circular of the Bank on Prime Minister Rojgar Yojana
Understand eligibility of borrower
Refer claims filed
Check credit of claims to Borrower’s account or as Fixed Deposits in the name of the Borrower
CA Shriniwas Y. Joshi

8. Certificate on Cash and Bank Balances
Required to arrive at CRR/SLR position of the bank
Twenty Six non-reporting Fridays’ details
Not required when branch is fully computerized
Balances to include ATM if attached to Branch
Unaccounted balances in bank reconciliation need MOC
CA Shriniwas Y. Joshi

9. Certificate of Investments held
Certificate regarding investments held by branches on behalf of H.O.
Cross check with GL Head
Physical Verification and confirmation of amount with GL
Checking DMAT account
Valuation and provisioning
CA Shriniwas Y. Joshi

10. Certificate on Risk Weighted Assets for Basel - CRAR
Refer RBI Circular for Risk Weights
Pre-printed weights against relevant GL items and GL amounts need verification with RBI circular
Mistakes in manual compilation
CA Shriniwas Y. Joshi

11. Certificate of NPAs Use computerized output received from H.O.
Check appropriateness of allocation of recoveries
Check new slippages
Check upgradations
Report Movements in Gross and Net NPA.
Check provisioning require
CA Shriniwas Y. Joshi

12. Certificate on Amounts Transferred to DEAF
Inoperative Deposits for period of more than 10 years to be transfer to RBI under Depositor Education and Awareness Fund
Ensure interest application till date of transfer
Amounts claimed from DEAF by depositors to be test checked with reference to KYC compliance
CA Shriniwas Y. Joshi

13. Certificates based on Computer Data Compilation
Certificate with compliance with Asset Liability Management (ALM) Norms
Certificate regarding classification of advances
Certificate in respect of Segment Reporting
CA Shriniwas Y. Joshi

14. Certificate on Compliance of Ghosh & Jilani Committee Recommendation
Certificate regarding EDP Environment, Inspection/ Internal Audit in Banks and Miscellaneous matters.
Jilani Committee Recommendation in implemented/ not implemented format
Ghosh Committee Recommendation for minimizing frauds and malpractices in banks in Yes/No Format
CA Shriniwas Y. Joshi

15. Issue of Audit Report and Certificates
On the Letterhead of the Audit Firm
To be signed in personal name by the partner and on behalf of the Firm
Firm Registration, Firm’s Seal and Membership number of partner require
Send additional report directly to CSA
Ensure compliance, correctness, clarity, conciseness and completeness
CA Shriniwas Y. Joshi

16. Thank You.
CA Shriniwas Y. Joshi